A boost to Australia’s manufacturing sector should not be the “main logical and rational” response to the United States’ Inflation Reduction Act, according to outgoing Productivity Commission chair Michael Brennan, who called for a “hyper rational assessment” of industry policy.
Mr Brennan also urged industry policymakers to conceptualise the economy not just in fiscal dollar terms but as a bundle of resources, including people, technology, know-how, capital, and materials.
“If …
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